Smooth the path to meeting compliance requirements for FACTA Red Flags Rule
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Identifying existence of identify theft
Setting provisions against risk and fraud losses
Smoothly implementing risk-based programs
Improve risk and fraud detection with expert consulting services
Many organizations today have heard of the Red Flags rule and recognize the need to make changes to comply with these rules. However, understanding the specifics and having a plan can help you meet these regulations quickly and effectively while also optimizing business operations.
A "Red Flag" can be defined as a pattern, practice, or specific activity that indicates the possible existence of identity theft. Creditors should focus on identifying Red Flags for account openings, existing accounts, and new activity on an account that has been inactive for two years or more.
Adherence to the FACTA Red Flags rule means that you need to identify, detect, and respond to fraud threats and update your identity and fraud prevention programs accordingly. Working with compliance experts like us can help you identify any gaps and bridge them with proven fraud detection and prevention systems.
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